1. (p. 30) America's business success is largely due to an economic and social climate that allows businesses to operate freely. TRUE AACSB: Reflective Thinking Blooms: Knowledge Learning Goal: 02-01 Explain basic economics. Level of Difficulty 1: Knowledge of key terms Nickels - Chapter 02 #1 Topic: How Economics Conditions Affect Business 2. (p. 30) Global economics and politics have no significant influence on businesses in the United States. FALSE AACSB: Reflective Thinking ...

Choose the one alternative that best completes the statement or answers the question. 1) The market for tablet computers has grown rapidly over the past few years. Following the successful launch of the iPad in 2010 with nearly 20 million sales and growing to 310 million in 2016, companies such as Samsung, Dell, Microsoft, Amazon, Google and many others have all introduced products to compete with the iPad. The tablets introduced to compete with the iPad would be considered: A) complements to ...

1) One of the first organizations to investigate the business cycle was A) the Federal Reserve System. B) the National Bureau of Economic Research. C) the Council of Economic Advisors. D) the Brookings Institution. Answer: B 2) The entire sequence of a decline in aggregate economic activity followed by recovery, measured from peak to peak or trough to trough is a A) long-run trend. B) potential output path. C) business cycle. D) recurrent comovement. Answer: C 3) A detailed history o...

(a) Since the growth rate of a variable equals the time derivative of its log, as shown by equation (1.10) in the text, we can write (1)  ( )   ( ) Z t ln ( ) ln ( ) ( ) Z t d Z t dt d X t Y t dt   . Since the log of the product of two variables equals the sum of their logs, we have (2)  ( )   ( ) Z t ln ( ) ln ( ) ln ( ) ln ( ) Z t d X t Y t dt d X t dt d Y t dt     , or simply (3)  ( ) ( )  ( ) ( )  ( ) ( ) Z t Z ...